Tuesday, August 12, 2008

Partnership and Equity Ownership Opportunities

Partnership and ownership opportunities are one of the most effective initiatives for retaining today’s physician. According to the Cejka Search and AMGA 2006 Physician Retention Survey, 51% of respondents mentioned partnership opportunities as one of the most effective initiatives on an ongoing basis.

These partnership and equity ownership options have proven successful among groups with established opportunities in place. Of the 62% who already offer their physicians these opportunities, 79% of respondents said partnership opportunities was their most effective retention tool, followed by profit-sharing opportunities (60%).

Be aware of what your competitors are offering and how your group’s partnership and equity programs stand out. For example, most groups offer partnership after two years. Consider these questions as you evaluate your group’s program, and then highlight its positive aspects that would be most appealing for each candidate as you are recruiting.
If your group’s income is divided equally among the doctors, are all doctors eligible or just shareholders?
After how much time does your organization offer partnership and equity opportunities?
How does your partnership buy-in price compare to the salary you are offering, and the benefits a partner stands to gain?

Some other partnership trends to be aware of include:
65% of groups offer the opportunity to part-time physicians.
94% of physician owned groups offer the option.
Partnership opportunities are most common in smaller practice groups and it’s found in 69% of groups with between 51 and 150.

While a lack of partnership opportunity was never cited as a main reason for leaving a group, the opportunity has proven effective for recruiting and retaining successful physicians.

*Source: The Cejka Search and AMGA 2006 Physician Retention Survey was completed by 92 members of the American Medical Group Association, and collectively employ more than 16,833 physicians.

Leadership Succession Programs

Leadership succession programs are a key factor in ensuring high physician retention rates and an organization’s continued success. These programs show that your organization values quality leadership, and has a plan in place for recognizing and grooming potential leaders for management roles. According to the Cejka Search and AMGA 2006 Physician Retention Survey, 39% of respondents said that their organization has a senior leadership succession plan in place. * Implementing a written leadership succession plan would put your organization ahead of the curve, and in a better position to recruit high-potential candidates.

Establishing set standards to identify future leaders is a fundamental aspect of an effective leadership succession program. Groups often use the following factors to identify potential leaders in their organization:
Leadership/Board observation and recommendation
Demonstrated leadership through committees/roles
Prior leadership training
Demonstrated interest in a leadership role

Once your group has identified potential leaders, it is important to encourage their growth and development within the organization. The following programs and activities are good examples of how organizations can promote leadership from within:
Extensive orientation covering leadership succession plan
Incremental leadership roles
Annual feedback from those in leadership roles
Payment and encouragement for leadership training
Pairing with senior members on projects
Involvement in decision-making within their departments

When recruiting new physicians, emphasize your organization’s leadership standards and how you encourage leadership development throughout the group. Setting leadership succession expectations in writing will help your organization recruit new physicians who are not only a good fit for your organization, but the candidates who have the potential to lead the organization in the future.

*Source: The Cejka Search and AMGA 2006 Physician Retention Survey was completed by 92 members of the American Medical Group Association, and collectively employ more than 16,833 physicians.

Establishing Mentoring Programs

An essential way to ease the transition of a new physician into your organization is to establish a mentoring program. These programs significantly decrease physician turnover. For example, according to the 2006 Cejka Search and AMGA Physician Retention Survey, practices without mentoring programs experience a 7.2% turnover rate. Practices with established mentoring programs experience a 6.3% turnover rate.*

Mentors perform a wide variety of activities with new physicians. Mentoring roles may include:
· Orientation: Mentors shadow new hires for first day and assist in orientation efforts.
· Social: Introducing new physicians to staff, leadership and providing social opportunities for physician and their families is a key role for mentors.
· Policy assistance: Mentors will ensure that new physicians understand all policies, unstated rules, coding issues and oversight on the group culture.
· Regularly scheduled meetings: These meetings are designed to check in with the new hire. The meetings are more frequent when the physician first begins.
· Reviews: Mentors offer new hires a review after predetermined time periods.
· Reviews offer the new hire valuable feedback on their performance in order to help them acclimate to the organization.
· The go-to-role: New physicians can go to their mentors at any time with any questions regarding the organization.

The primary factor for success or failure in a mentor relationship is the commitment level of the mentor. Mentors must be available to a new hire in order for the relationship to be successful. In addition, the more formalized your mentor program is, the more likely it is to succeed.

*Source: The Cejka Search and AMGA 2006 Physician Retention Survey was completed by 92 members of the American Medical Group Association, and collectively employ more than 16,833 physicians.

Friday, August 8, 2008

The Critical First Three Years

A physician’s first three years in a practice hold the greatest likelihood for separation. According to the Cejka Search and AMGA 2006 Physician Retention Survey, 46% of separating physicians leave within the first three years. During this time, organizations should examine recruitment and retention efforts.

During the orientation period, new physicians should receive intensive job training and social introductions to make them more comfortable with their new surroundings. Helping a new physician fit in with your group can increase your chances of keeping that physician as a satisfied and productive member of your organization.

Many retention initiatives have proven successful in retaining employees through the first three years. By implementing some of the following initiatives, your organization will internally strengthen your retention of physicians over the long term. Successful initiatives include:

· Regular feedback and performance reviews
· Partnership/ownership opportunities
· Flexible work hours or part-time options
· Opportunities to meet with senior leadership
· Continuing medical education reimbursement
· Profit-sharing opportunities
· Ongoing mentoring
· Formal recognition for a job well done
· Opportunities for involvement in non-clinical committees or functions
· Ongoing employer contact with spouse and/or family
· Opportunities for non-clinical professional development
· Retention bonuses

An equally important issue for new hires is family involvement and spousal assistance. Often hiring a new physician means that a spouse will also need a new job. When recruiting, make an effort to facilitate the spouse’s transition, too. These strategies include engaging the spouse in the interview process, providing dedicated relocation assistance, providing spousal career assistance or professional networking opportunities and creating social events for the family.

Strong retention initiatives and clear expectations of job responsibilities can ultimately lengthen a new hire’s tenure and create an environment that will make future recruitment more successful.

*Source: The Cejka Search and AMGA 2006 Physician Retention Survey was completed by 92 members of the American Medical Group Association, and collectively employ more than 16,833 physicians.

Thursday, August 7, 2008

What Physicians Want

As the demographics of the physician workforce continue to diversify, hospitalist managers should consider the expectations of the new generation of physicians when recruiting for your practice.

According to the 2006 Cejka Search and AMGA Physician Retention Survey, 46% of physicians who leave a practice are most likely to do so within the first 3 years.* Therefore, understanding what physicians want in a practice will ensure that you are recruiting physicians who will remain with the organization.

Physicians who fit well with the culture of an organization are more likely to stay with a practice. Make sure your candidates have similar personalities and work ethic as the rest of the staff.
The family has become increasingly important to the modern physician. Doctors are looking for practices that offer benefits such as maternity leave and spousal job search support. Physicians also desire a practice that is located near their extended family.

Part-time and flexible work hours are also growing in importance. The number of physicians working part-time hours has increased to 20%. Flexible hours or part-time options are reported as one of the top three ongoing retention initiatives that medical group leaders have found to be effective*

Above all, recruiters should recognize the importance of focusing on a physician’s desires in a practice. To attract and keep a physician in your practice, it is increasingly important to understand and discuss a physician’s expectations ideal practice environment, including cultural fit, family and flexibility.

*Source: The Cejka Search and AMGA 2006 Physician Retention Survey was completed by 92 members of the American Medical Group Association, and collectively employ more than 16,833 physicians.

How to Determine if Your Candidate is a Good Fit for the Long Term

How a physician meshes with the current culture of an organization influences the length of the physician’s stay. According to medical group leaders who responded to the 2006 Cejka Search and AMGA Physician Retention Survey, said “poor cultural fit with the practice” is the single most frequently mentioned reason for voluntary separation. *

Because recruitment and retention are directly related, you should focus on attracting candidates who will quickly acclimate to your group’s culture. Recruiters must first clearly understand the culture of the organization. By identifying your organization’s values, you can more accurately recognize traits in candidates that will blend with the current staff.

One of the most effective strategies for assessing whether or not a candidate will be a long-term cultural fit is through behavioral interviewing techniques. The following questions may be employed:
▪ Describe an experience that required talking with a patient or staff member under particularly difficult circumstances.
▪ Tell me how you have created an environment where staff or patients are comfortable approaching you—even with bad news.
▪ Describe a time when you provided recognition of a staff member.
▪ Describe a time when someone wasn’t performing up to your standards.
▪ Tell me about your relationships at work. Describe a favorite relationship, a difficult relationship.
▪ Give me an example of where you had to mediate conflict in your office, department or organization.
▪ Describe a patient case or encounter that generated a particular sense of compassion for you.

Such questions will assist in determining if a candidate is a long-term cultural fit for your organization. Additional strategies include peer interviews, spouse participation in interviews, job shadowing prior to the offer and offering a locum assignment for a probationary period.

*Source: The Cejka Search and AMGA 2006 Physician Retention Survey was completed by 92 members of the American Medical Group Association, and collectively employ more than 16,833 physicians.

How to Determine Whether Your Candidate is a Good Fit for Your Organization

How well a physician meshes with the current culture of an organization influences the length of the physician’s stay. According to the Cejka Search and American Medical Group Association (AMGA) 2006 Physician Retention Survey, which was completed by 92 members of the AMGA who collectively employ more than 16,833 physicians, “poor cultural fit with practice” is the single most frequently mentioned reason for voluntary separation.

Because recruitment and retention are directly related, focus on attracting candidates who will quickly acclimate to your group’s culture. To do so, recruiters must first clearly understand the culture of the organization. By identifying your organization’s values, you can more accurately recognize traits in candidates that will blend with the current staff. One of the most effective strategies for assessing whether a candidate will be a long-term cultural fit is through behavioral interviewing techniques.

Ask candidates the following during the interview process:
▪ Describe an experience that required talking with a patient or staff member under particularly difficult circumstances.
▪ Tell me how you have created an environment where the staff members or patients are comfortable approaching you – even with bad news.
▪ Describe a time when you provided recognition of a staff member.
▪ Describe a time when someone wasn’t performing up to your standards.
▪ Tell me about your relationships at work. Describe a favorite relationship and a difficult relationship.
▪ Give me an example of where you had to mediate conflict in your office, department or organization.
▪ Describe a patient case or encounter that generated a particular sense of compassion in you.

Such questions will assist in determining whether a candidate is a long-term cultural fit for your organization. Additional strategies include peer interviews, spouse participation in interviews, job shadowing prior to the offer and offering a locum assignment for a probationary period.

Wednesday, August 6, 2008

Retention Initiatives Can Lower Turnover

Physician retention is a growing concern for healthcare organizations. Establishing formal retention strategies results in fewer turnover rates and saves you time and money in your recruiting efforts.

According to a the Cejka Search and AMGA 2006 Physician Retention Survey, which was completed by 92 members of the American Medical Group Association who collectively employ more than 16,833 physicians, organizations with designated retention programs experience lower turnover rates (6%) than organizations without retention initiatives (7.1%).

The survey found the following retention initiatives to be the most effective:

§ Regular feedback and performance reviews
§ Partnership/ownership opportunities
§ Flexible work hours or part-time options

The timing of such initiatives appears to make a difference. Between the time a new physician is hired, until his or her starting date, setting clear expectations about compensation was rated as the most effective strategy. And, in the first 90 days of employment, personal interaction with peers is rated most highly.

Assigning a mentor to newly recruited physicians is an effective retention strategy, according to the group leaders who responded to the survey. Of all respondents, 61% reported that they assign a mentor to new recruits. Most mentors work within the same department as the new physicians, and have been with the practice an average of 5.3 years. Among the groups that assign a mentor within the same department, the turnover rate was significantly lower, at 5.8%, compared with organizations with no mentoring – who reported a 7.2% turnover rate.

Every organization will find a different path for retention that is specific to its own situation, culture, and resources. However, there is value in establishing early groundwork for retention by setting clear expectations, offering a variety of career options, and engaging new physicians with their peers and mentors.

Include Spouse in the Interview Process

To determine if your physician candidate is a viable prospect for a long-term fit, engage the spouse early in the recruitment process. This will help you better understand the family dynamics, and the professional and personal needs of both parties. Once you realize you’re recruiting the couple and not just the physician, you will be able to address the needs that each individual feels are most important.

The importance of family and spouse in recruiting and retaining physicians is reinforced by findings of a physician retention survey of group practice administrators. The survey, conducted by Cejka Search and American Medical Group Association (AMGA), was completed by 92 members of the AMGA who collectively employ more than 16,833 physicians.

According to the survey results, relocating to be “closer to family” or “for spouse’s job” were among the four most frequently mentioned reasons why a physician leaves a practice voluntarily.

The effectiveness of early engagement with a candidate’s spouse was also reinforced in the retention survey (What retention survey?). Group practice administrators noted the following as being effective strategies:
▪ Providing dedicated relocation assistance
▪ Including the spouse during the interview
▪ Providing career assistance or professional networking for the spouse
▪ Creating social events for the family

If the practice opportunity you are offering is especially unique due to location or the nature of the position, you may want to consider offering a one-week locum tenens as a trial.

If you remember that employing a physician is often a “package deal,” and work to make both partners happy, you’re more likely to employ a physician who will be with you for the long-term.

Recruiting the Younger Physician

In the coming years, the young medical professionals will be filling the positions that are currently occupied by physicians in the generations known as “Baby Boomers” and “Matures.”

According to the American Medical Association:
§ Roughly 33% of practicing physicians are 27 to 41 years old, representing the “GenX” segment. Within this generation of physicians, 58% are male and 42% are female.

§ Millennials, born after 1980, are just now emerging from medical school. Although small in numbers at this point, 54% are women. This is the first segment in the history of modern medicine in which women will represent the majority of physicians.

These young physicians bring with them new values, needs and expectations. A number of key strategies can help you be more effective in recruiting and retaining this “new generation” of physicians.

§ Align physician recruitment strategies with retention initiatives. Hire the “right” physician who fits well within your culture and then immediately focus on retention initiatives. This includes fostering relationships among peers, the larger practice and the community.

§ Establish clear expectations. younger physicians expect an accelerated partnership track, one that includes a reasonable buy-in and early sharing or equity participation in ancillary revenue sources. They want to see the specifics of “how much” and “when” spelled out clearly in their employment contract.N

§ Be ready to address details the realities of the practice during the interview process. This includes productivity goals, the compensation model, call coverage, clinical hours, and patient volumes.
Young physicians generally have strong time management skills and use technology to increase efficiency. They understand the value of team work and thrive in an environment where they receive frequent feedback and mentoring.

Don’t hesitate to structure the opportunity to leverage these strengths for the benefit of all.

Tuesday, August 5, 2008

Sample Initiatives to Improve Physician Retention

Physician turnover not only drains time and resources due to the need to continually recruit new physicians, but it can also result in increased stress, heavier workloads, and decreased morale for physicians who remain on staff. In an effort to address these challenges, many hospitals and physician practice groups are increasing their focus on physician retention initiatives:
▪ More intensive and longer orientation and mentoring programs
▪ Assignment of both a senior- and junior-level mentor to a new physician
▪ Increased family and spouse focus; intermittent social events throughout the first year
▪ Performance reviews at three, 12 and 24 months
▪ Retention committee and physician satisfaction team; three-year follow-up on all new
physician hires
▪ Flexible work schedules and job sharing
▪ Increased contact with medical directors and leadership
▪ Concierge services
▪ Loan repayment and salary advances (five-year paybacks)
▪ Involvement of newer physicians in portions of the orientation or interviews processes
▪ Different bonus options – vacation or pay or a mixture or sabbaticals
▪ Interview for cultural fit
▪ Prior to hiring, contract with physician candidates for a one-week locum assignment (spouses and children come with a physician)
▪ Exit interviews with both human resources and the CEO

Checking References

Although many healthcare organizations leave their reference checks until the end of the recruiting process, these checks may be among the most critical steps in hiring new physicians.

Reference letters from candidates provide helpful insights, but they do not replace the need for in-depth telephone conferences with at least three sources who have knowledge of the candidate’s past clinical experience.

Consulting references early in the recruiting process is valuable not only because these individuals can alert you to potential trouble spots, but also because they enrich the interview process and help you better understand the candidate’s prior clinical and workplace experiences. They can also provide ideas about the areas on which to focus during the face-to-face interview.

Note: Leaving a reference check until the end of the process should occur only in cases in which there are extenuating circumstances and the candidate’s confidentiality must be maintained.

Not all references are alike. Ideally, the references you interview should have recent experience with the candidate and have known him or her for at least a year in a professional capacity.

Once you've introduced yourself to the reference, give him or her only a brief description of the position for which the physician is applying. A “behavioral” interviewing style is effective when querying references. Try asking open-ended questions, such as:

Can you please briefly describe the candidate’s style and approach to making clinical decisions?

What types of office or practice environments and cultures would be the most appropriate for this physician to excel?

Please share any insight as to how the candidate comes across to patients.

Would you feel comfortable having this physician treat a member of your family? Why?

Next, ask the reference to describe a particular situation in which the candidate exhibited certain qualities or behaviors.

While checking references, you may learn negative information about a candidate that may influence your opinion of him or her. However, you should not share this data with others, including the candidate. Doing so violates the confidentiality of the information the reference has shared. Sharing such information could also limit the effectiveness of securing candid assessments from this reference in the future.

Follow the rule of securing references before you interview, and you will increase your ability to assess the hospitalist’s viability as a candidate and the likelihood for a good fit as a potential member of your team.

Fostering Leadership Potential

Leadership development for a physician requires a comprehensive approach and lasts throughout his or her entire career. Hospitalist leaders can foster leadership in their organizations by proactively recruiting physicians with leadership potential.

To do this, first determine whether a candidate’s skills and knowledge meet your organization’s needs. A well-constructed interview enables you to evaluate attitude, self-image, and social skills. The interview process should look below the surface to assess the candidate’s motives, values, and key personality traits.

Traits to look for in physician leaders include:
▪ Organizational agility
▪ Integrity values
▪ History of achievement
▪ Motivation
▪ Professional and personal goals
▪ Interpersonal and communication skills
▪ Ability to accept feedback and respond to coaching
▪ Leadership experience and potential

To target and develop leadership potential in a physician, the key is to start early. Immediately introduce physicians to the organization’s goals, mission, vision, and core values, and discuss how these align with those of the physician.

By clarifying expectations, the developing physician leader will better understand how his or her skills will help to lead the organization in multiple ways: clinically, as a business enterprise, and among peers and staff.

Ensure that up-and-coming hospitalist leaders understand the expectations and specific responsibilities related to their job description. Communication and ongoing feedback and support are essential and send the message that you want to nurture the careers of physician leaders. This helps to increase job satisfaction and retention.

Monday, August 4, 2008

Recruiting to Win Spouse Approval

You think you’ve found the right match for your hospitalist position – the feedback from your interview team overwhelmingly points to one outstanding candidate, and the position seems to meet the prospective employee’s professional and personal goals.

However, there is an important element missing that could derail the entire offer: does the spouse support this job change? One of the most common reasons that candidates will refuse a position is because their spouse is dissatisfied or unsure regarding factors related to the job. In fact, over 60% of offers are rejected specifically because of the spouses’ concerns.

During the evaluation process, be sensitive to personal and professional needs of the candidate’s family, particularly when the position involves relocation.

Beyond salary and incentives, “quality of life” in the community and location are important. Considerations may also include:
Career opportunities for the spouse
Residential areas
Education
Religious institutions
Recreational facilities
Cultural and sporting activities

When recruiting a candidate, assure the spouse that he or she will be an integral part of the interview process. Learn about the spouse’s professional and personal interests, and then prepare an itinerary for the candidate’s family. While you’re under no obligation to find a spouse employment, you could set up courtesy interviews with some potential employers, churches, schools, and real estate offices. By addressing the spouse’s particular needs and desires, you can emphasize key factors of the position that help to engage them and win their acceptance.

How to Find Quality Candidates

Experiencing the recruitment blues? Finding quality candidates in today’s market can be particularly challenging, as hospital medicine programs grow increasingly competitive and the nationwide physician shortage becomes more severe.

Note: A shortage of 200,000 physicians across all specialties is predicted by 2020. Source: Cejka Search.

The successful recruitment of star hospitalists requires careful thought and execution through an organized search plan. However, a quarter of all organizations surveyed do not define what they are looking for in candidates before they begin searching.

First, engage senior leadership to help you define the core competencies (skills, motivations, and behaviors) of the position you are seeking to fill. Senior leadership can provide direction regarding the organization’s goals, which can then guide you in orchestrating a recruitment process. There are both short- and long-term organizational goals to consider, and they span multiple areas including:
▪ Clinical
▪ Operational
▪ Financial
▪ Cultural

Finding the right physician to match your organization’s expectations requires sensitivity to factors inherent in the position. For example, the greater the number of responsibilities of a position, the smaller the pool of candidates with the desired personal and professional qualifications will be.

Determining how a position fits your organization’s needs, critiquing the specifications and job descriptions, and ensuring that your team is properly trained to interview candidates can help your organization more successfully recruit top-quality hospitalists that fit well into your organization.